VANCOUVER, British Columbia, Dec. 03, 2024 (GLOBE NEWSWIRE) — Vortex Energy Corp. (CSE: VRTX | OTC: VTECF | FRA: AA3) (“Vortex” or the “Company”) is pleased to announce the successful completion of a high-resolution UAV magnetic survey at the north block of the Company’s Robinsons River Salt Project (“The Project”) in southwestern Newfoundland. Conducted by EarthEx Geophysical Solutions, the survey marks the next step in advancing exploration.
The UAV survey utilized cutting-edge technology to acquire high-resolution magnetic data across three target areas, with 25-meter line spacing and precise terrain-following capabilities. The results successfully identified magnetic anomalies that reveal structural features across various parts of the project. These findings suggest that magnetic surveys may be able to effectively distinguish subsurface structures relating to salt formations suitable for cavern storage development.
The success of this survey demonstrates the value of magnetic studies in mapping structural features and supports the case for expanding geophysical exploration at the Project. Future magnetic studies, combined with complementary techniques such as seismic and gravity surveys, could further refine the understanding of salt deposit occurrences and enhance targeting for cavern storage potential.
Figure 1 Location of the magnetic surveys in the project area.
Figure 2 TOP LEFT: Residual magnetic intensity using a linear colour stretch; TOP RIGHT: First vertical derivative of the residual magnetic intensity using a linear colour stretch; BOTTOM LEFT: Residual magnetic intensity with a non-linear colour stretch; BOTTOM RIGHT: First vertical derivative of the residual magnetic intensity with a non-linear colour stretch.
The scientific and technical content of this news release has been reviewed, verified and approved by Jared Suchan, Ph.D., P.Geo., Technical Advisor at the Company, and a “Qualified Person” as defined by National Instrument 43-101. Verification included a thorough review of the magnetic survey methodologies, data acquisition parameters, and processed results provided by EarthEx Geophysical Solutions.
About Vortex Energy Corp.
Vortex Energy Corp. is an exploration stage company engaged principally in the acquisition, exploration, and development of mineral properties in North America. The Company is currently advancing its Robinsons River Salt Project comprised of a total of 942 claims covering 23,500 hectares located approximately 35 linear kms south of the town of Stephenville in the Province of Newfoundland & Labrador. The Robinsons River Salt Project is prospective for both salt and hydrogen salt cavern storage. The Company is also evaluating technologies to efficiently store hydrogen or energy in salt caverns. The Company is also currently advancing its Fire Eye Uranium Property in the Athabasca Basin, a region globally renowned for its uranium deposits.
For further information, investors are encouraged to review the Company’s filings available at www.sedar.com.
On Behalf of the Board of Directors
Paul Sparkes
CEO, Vortex Energy Corp.
+1 (778) 819-0164
info@vortexenergycorp.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the Company’s exploration plans at the Project.
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward-looking information included in this press release, assumptions regarding the Company’s ability to execute on its exploration plans, including that it will be successful in carrying out the planned drilling and that such drilling will yield the expected information and the desired outcomes.
Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that exploration at the Project does not proceed in the manner and on the timeline currently contemplated, or at all; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; and that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company, including as a result of factors beyond the Company’s control, such as geological conditions. The forward-looking information contained in this release is made as of the date hereof, and the Company not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0a262ac9-2dac-4e36-8e70-e50fc095cfd1
https://www.globenewswire.com/NewsRoom/AttachmentNg/cec57668-db44-4ea0-900c-bae33f0e7fc7
